This study analyses 1400 research projects of the top 20 R&D-spending pharmaceuticals to identify the determinants of successful research projects. We provide clear evidence that externally sourced projects and projects involving biotechnologies perform better than internal projects and chemical...

The Covid-19 pandemic tragically emphasized severe failures of health systems. In particular, the saturation of hospital infrastructures and the lack of medical devices is crucial for respiratory ventilators. The medical and pharmaceutical sectors had to find urgently new ways to innovate...

This paper uses data on transactions in the pharmaceutical industry to examine the demand-side of technology outsourcing. By integrating a transaction-cost economics perspective with the analysis of internal Ramp;D capabilities, we find that firms with relatively more cospecialized complementary...

Pharmaceutical firms spend billions of dollars to develop the next breakthrough drug and to maintain their market shares. We investigate how pharmaceutical firms use mergers and acquisitions to boost their innovation performance which has been found to result in better performance outcomes....

This paper deals with the topic of related R&D and innovation strategies of large firms. We ask what determines the diversity of a firm's product portfolio. More specifically, we try to explain large firms' expansion into new product markets driven by the characteristics of their technological...

In the context of the ongoing debate about an innovation crisis in the pharmaceutical industry, we study the success rates of pharmaceutical R&D projects as a measure of innovative productivity. The empirical literature suggests success rates have been decreasing during recent decades. We...

This study analyses 1400 research projects of the top 20 R&D-spending pharmaceuticals to identify the determinants of successful research projects. We provide clear evidence that externally sourced projects and projects involving biotechnologies perform better than internal projects and chemical...